J&J could get record rate on $1.1B debt sale; Genentech puts PDL BioPharma on patent notice;

@FiercePharma: Elan investor questions deal with Azur Pharma. Article | Follow @FiercePharma

> Johnson & Johnson may sell $1.1 billion of bonds in the first offering by a nonfinancial AAA rated company in 15 months amid surging investor demand for corporate debt--putting its interest rate at the lowest on record for that sort of debt. Report

> PDL BioPharma says it has received a letter from Roche's Genentech stressing certain Genentech products do not infringe PDL's patents in Europe. PDL release |  Article

> The European Medicines Agency and FDA are looking for companies to participate in their pilot joint inspection program for manufacturing facilities. Story

> Irish drugmaker Warner Chilcott says its subsidiaries sold $750 million of senior notes in a private placement. News

> Lundbeck kept its 2010 guidance despite a 30 percent spike in quarterly operating profit, expecting U.S. sales of its cash cow antidepressant to weaken and European healthcare reforms to bite. Report

> Jim Gottstein, an attorney who was one of three people named as conspirators in the infamous Zyprexa document scandal three years ago, has lost his bid to overturn an injunction leveled against him by a federal judge in New York. Item

> New evidence linking the use of acetaminophen to development of asthma and eczema suggests that even monthly use of the drug in adolescents may more than double risk of asthma in adolescents compared to those who used none at all. Story

Biotech News

 @FierceBiotech: Ramius tempts Cypress shareholders with sweetened offer. Article | Follow @FierceBiotech

 @JohnCFierce: Regulatory oversight for Genzyme for up to nine years? Article | Follow @JohnCFierce

> Epitomics spins off mAb company Apexigen. Report

> CHS, GLG to relocate in Florida. News

> Data-sharing breeds Alzheimer's progress. Story

> Emergent buys Trubion for up to $135 million. Item

> GSK orders Sirtris execs to stop selling resveratrol. Article

> CeNeRx raises $13M as it preps for Phase II. News

And Finally... FDA Commissioner Margaret Hamburg says China is improving its oversight of exporters following a slew of scandals over bogus or substandard drugs and foods. Report